Topic: Are Bail-ins possible in Europe? - page 3. (Read 2913 times)
The governments that can print will print, the governments that can't print (Euro zone) will be forced to bail-in, cue many concessions and severe austerity. At some point a country will say "no" to these and leave the Euro and that's when the SHTF for the Euro. It was quite close with Cyprus, but the politicians are often bought.
...although of course with the addendum of "oh we would NEVER do that, we were just chatting about it in parliament"...
Of course nobody would ever do that!!! It's just a chat in parliament amongst friends, what were you thinking!?
Yeah, I can't believe how naive the people are about this, really. You don't get any real return for your money on a savings account, just a big real loss, and on top of that your money might be bailed in? And you are still leaving it on the account?
A tiny, but smart minority goes the other way and buys precious metals and maybe BTC... and they will be rewarded big time!
But you can also see it that way: If everybody was smart about it, we couldn't gain anything here. Just let the masses of idiots do the main part of paying through inflation and bail-ins...
A 10% wealth tax will be horrible. It will be much worse than the Cyprus haircut. And in some cases, it will ruin the people and turn them homeless.
For example, lets consider the example of someone, who is having outstanding loans worth some $100K, lives in a house which is worth $500K, and having no other assets. Now his net wealth is $400K, and @ 10% wealth tax, he will have to pay $ 40,000 to the government. He is having no other asset other than the house. So what he will do? He will have to sell his house immediately, which will make sure that he receives only a fraction of the actual worth. In the end, he will be left homeless, with $200K or something in his hand.
For example, lets consider the example of someone, who is having outstanding loans worth some $100K, lives in a house which is worth $500K, and having no other assets. Now his net wealth is $400K, and @ 10% wealth tax, he will have to pay $ 40,000 to the government. He is having no other asset other than the house. So what he will do? He will have to sell his house immediately, which will make sure that he receives only a fraction of the actual worth. In the end, he will be left homeless, with $200K or something in his hand.
Lol, I'm sure bail-ins are coming here in Europe, believing anything else is very naive. That being said, nobody in the population believes bail-ins are coming...
I'm not sure how it works with national law, but I'm sure the European and US economy are a total mess right now and can only go downhill from here...
I'm not here to write you a 70-page essay about the arguments, but you can read up on it all over the internet in alternative media. Check out pages like zerohedge, King World News, Silver Doctors, Miles Franklin Blog. Just don't believe the mass media, they are just propaganda machines at the moment...
This will be massively bullish for gold, silver and, if governments don't find a way to take it out of the game, for BTC. I think BTC doesn't even have to be used as a currency then, just it being a safe store of value would be enough. That's what I'm talking about in my thread here:
https://bitcointalksearch.org/topic/bitcoin-worthless-if-not-usable-as-currency-396216
I'm not sure how it works with national law, but I'm sure the European and US economy are a total mess right now and can only go downhill from here...
I'm not here to write you a 70-page essay about the arguments, but you can read up on it all over the internet in alternative media. Check out pages like zerohedge, King World News, Silver Doctors, Miles Franklin Blog. Just don't believe the mass media, they are just propaganda machines at the moment...
This will be massively bullish for gold, silver and, if governments don't find a way to take it out of the game, for BTC. I think BTC doesn't even have to be used as a currency then, just it being a safe store of value would be enough. That's what I'm talking about in my thread here:
https://bitcointalksearch.org/topic/bitcoin-worthless-if-not-usable-as-currency-396216
Not only possible....probable at some point in the future.
Canada has had some talks about adding the possibility of bail-ins to the next budget...although of course with the addendum of "oh we would NEVER do that, we were just chatting about it in parliament"...
http://www.globalresearch.ca/the-confiscation-of-savings-in-canada-cyprus-style-bail-ins-proposed-by-ottawa-government/5329263
The US as well...
http://www.wnd.com/2013/09/americans-warned-bank-bail-ins-coming/
Just do a search for "XXX country +bailins" and you will find every country in the world salivating over "the Cyprus experiment".
Canada has had some talks about adding the possibility of bail-ins to the next budget...although of course with the addendum of "oh we would NEVER do that, we were just chatting about it in parliament"...
http://www.globalresearch.ca/the-confiscation-of-savings-in-canada-cyprus-style-bail-ins-proposed-by-ottawa-government/5329263
The US as well...
http://www.wnd.com/2013/09/americans-warned-bank-bail-ins-coming/
Just do a search for "XXX country +bailins" and you will find every country in the world salivating over "the Cyprus experiment".
See Cyprus to show bail-ins are possible in Europe. Laws are added when needed. As far as the wealth tax, it is certainly possible and increasingly likely.
Are Bail-ins and the IMF 10% wealth tax possible in Europe?
Are bail-ins really possible in Europe? What about the countries that dont pay with Euro... Whats your take on this?
I watch several videos and read several articles where they said so (that bailins are possible), and that they are in the laws already... On the other hand i had also read that bailins will be included in "nations" (?) laws not sooner than in 2018... so wheres the truth now...? Who should i belive... i feel that a lot of the articles about bailins comming soon are just fear mongering conspiracy idiots (i belive in a lot of "conspiracy theories" but they are blown out of proportion a lot of the times)...
So whats your thought on bailins and the 10% IMF wealth tax?
How would it affect bitcoin? (i think the price would rise of course).
Wouldnt it cripple the faith in banks forever...?
Would also some bank restrictions (capital control, you can withdrawl for example only a small specific ammount from your bank account)... Wouldnt it cripple the bitcoin exchnages, because people wouldnt be simply able to buy a sufficient ammount on BTC?
Whats your INFORMED opinnion on this issue, whats your arguments ("I FEEL it wont happen" really doesnt count, so as "i think the banksters will take all your money" also doesnt apply).
(if you dont know what bail-in is dont reply :-) )
Are bail-ins really possible in Europe? What about the countries that dont pay with Euro... Whats your take on this?
I watch several videos and read several articles where they said so (that bailins are possible), and that they are in the laws already... On the other hand i had also read that bailins will be included in "nations" (?) laws not sooner than in 2018... so wheres the truth now...? Who should i belive... i feel that a lot of the articles about bailins comming soon are just fear mongering conspiracy idiots (i belive in a lot of "conspiracy theories" but they are blown out of proportion a lot of the times)...
So whats your thought on bailins and the 10% IMF wealth tax?
How would it affect bitcoin? (i think the price would rise of course).
Wouldnt it cripple the faith in banks forever...?
Would also some bank restrictions (capital control, you can withdrawl for example only a small specific ammount from your bank account)... Wouldnt it cripple the bitcoin exchnages, because people wouldnt be simply able to buy a sufficient ammount on BTC?
Whats your INFORMED opinnion on this issue, whats your arguments ("I FEEL it wont happen" really doesnt count, so as "i think the banksters will take all your money" also doesnt apply).
(if you dont know what bail-in is dont reply :-) )
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